Power Mech Projects Limited shares witnessed a 2.89% surge to an intraday high of ₹2,584.95 on Friday after the company reported that it has received an order worth ₹186 crores from Jaiprakash Power Ventures Limited (JPVL).
The order from JVPL involves field operation and maintenance services for the 2 x 660MW Jaypee Nigrie Super Thermal Power Plant located in Nigrie, Madhya Pradesh. The services will be provided for a duration of five years starting from January 1, 2025 to December 31, 2029, as per the exchange filing.
Power Mech Projects is an integrated infrastructure services provider, specializing in comprehensive power plant solutions from erection and testing to maintenance services. The company's expertise spans three core verticals - erection works, operations and maintenance, and civil construction - making it a one-stop solution for power infrastructure needs.
At close on Friday, the shares of Power Mech Projects Limited were 1.78% higher at ₹2.557.10 per share as compared to the previous close of ₹2,512.35 per share on the National Stock Exchange (NSE).
Summary:
Power Mech Projects Limited shares rose 2.89% on Friday after the company bagged an order worth ₹186 crores from Jaiprakash Power Ventures Limited (JPVL) for the operation and maintenance of a thermal power plant in Madhya Pradesh.
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